Articles |
21 February 2019

Large-scale projects worth €8b up for grabs

Some 21 big projects valued a combined €8 billion need a cash injection says the Large Investment Projects Association in a brochure issued in an effort to promote Cyprus as an ideal investor destination.

The Large Investment Projects Association has published and circulated to the international markets a new Profiler for 21 large-scale projects with a total value of €8 billion.

The primary objective is to enhance the business environment of Cyprus and attract foreign direct investment, which is necessary for the completion and development of specific projects. The 21 large-scale development projects that are presented in the Profiler include among other, golf courses, high-rises, mixed development projects, hotels as well as villas. This edition includes projects under management of the 18 member-companies of the Association.

Meanwhile, the association says that the above developments are contributing to the local economy in a number of ways. In a statement, the President of the Association, Andreas Demetriades said: “Many of the projects included in the Profiler, are at an advanced stage, allowing for their completion in a short period of time…implementation of these projects will enhance and upgrade our tourism product while also creating over 9,000 jobs”.

The Association of Large Investment Projects highlighted the country’s business environment is ideal for attracting investments. “The members of the Association share a common vision; to shape Cyprus into a modern regional hub through the promotion and implementation of large-scale private development projects, thereby contributing to the country’s economic growth.”